Verilog/VHDL
Synthesis (even just for FPGA)
Static Timing (setup time/hold time)
Back-annotated gate level simulation
Basic digital design concepts (FSM, data pipelines, etc.)
Basic UNIX skills, emacs/vim, grep, find, man
Basic programming (C, C++, perl, shell scripting)
BS degree
I expect more from an MS (at least some of the following):
Verification methodology
Vera/SystemVerilog/SystemC
Assertions
Functional Coverage
Fault Coverage (scan, custom patterns)
Power considerations
Clock domain crossings
Deep sub-micron Static timing considerations (OCV)
Understanding of basic common architectures (SPI, UART, I2C,
microprocessors (x86/arm/arc/powerpc)
Standard cell library construction
Clock tree design
Reset synchronization
Clock gating
Basic resources (DDR DRAM, SRAM, PLL, DLL, etc.)
Fifo design
Clock divider design